Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 Job 307 Job 308 $ 29,400 20,400 10,400 $ 35,400 18,400 9,400 136,000 85,400 ? 221,000 151,000 ? $ 101,000 106,000 ? Finished (sold) Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $80,400. b. Raw materials purchases in April are $501,000, and total factory payroll cost in April is $364,000. c. Actual overhead costs incurred in April are indirect materials, $50,250; indirect labor, $23,250; factory rent, $32,250; factory utilities, $19,250; and factory equipment depreciation, $51,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $636,000 cash in April. Check Required: 1. Determine the amount of overhead applied to each job in April. Predetermined overhead rate Overhead applied 306 307 308 April Total $ 0 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 March Direct materials $ 29,400 $ Direct labor 20,400 Overhead applied Work in process, beginning 10,400 April Direct materials Job 307 35,400 18,400 9,400 Job 308 136,000 221,000 101,000 85,400 151,000 106,000 Direct labor Overhead applied Costs added in April 221,400 372,000 Total costs Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: April Total $ 0 458,000 342,400 0 207,000 $ 800,400 0 4. Prepare a schedule of cost of goods manufactured for the month ended April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured 0 0 $ 0 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req SA Req 5B Compute gross profit for April. Gross profit 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Inventories Total inventories $ < Req 5A Req 5B >